NEW! 95% CLTV Piggyback

Borrowers who use Newfi Wholesale’s 95% CLTV Piggyback can obtain jumbo loan amounts with an even lower down payment — while still getting agency pricing.

What’s exciting about the 95% CLTV Piggyback?

  • Only 5% down payment required from borrower!
  • Avoid mortgage insurance!
  • Obtain agency pricing on your first mortgage!

Product highlights

  • Purchase only
  • Overlays to FNMA DU:
    • 40% maximum DTI
    • 740 minimum credit score
  • 6 months PITIA reserves required (principal, interest, taxes, insurance, and association dues)
    • Payment shock provision for first time home buyers: proposed PITIA payment cannot exceed 150% of current housing (rent) expense
  • 1st mortgage standard or high balance conforming*
  • 2nd mortgage loan amounts: $25,000 – $250,000
  • 1st mortgage terms offered:
    • Fixed: 10, 15, 20, 30 years
    • ARMs: 5/1 and 7/1
  • 2nd mortgage terms offered: 15 or 30 Years
  • Primary residence only
  • Fully delegated, and both loans underwritten concurrently

* High balance conforming in major metropolitan counties only

For more information

See our program guidelines and our flyer, or call the Newfi Wholesale team at 888-415-1620!

Check out our other wholesale loan products!